ACCOUNTS - Final Accounts

Registered number: 03064365

POLICYBASIS LIMITED

UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

POLICYBASIS LIMITED

Company Information

Directors	Mr M Vaughan-Fowler
	Mrs J Vaughan-Fowler


Company secretary	Mr M Vaughan-Fowler


Registered number	03064365


Registered office	3rd Floor
	12 Gough Square
	London
	EC4A 3DW

POLICYBASIS LIMITED

Registered number: 03064365

Balance sheet

As at 31 December 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	2,184,075		2,248,761
Cash at bank and in hand		808,793		698,613
		2,992,868		2,947,374
Creditors: amounts falling due within one year	5	(117,776)		(8,077)
Net current assets			2,875,092		2,939,297
Total assets less current liabilities			2,875,092		2,939,297

Net assets			2,875,092		2,939,297

Capital and reserves
Called up share capital	300	300
Profit and loss account	2,874,792	2,938,997
	2,875,092	2,939,297

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 September 2025.

................................................

Mr M Vaughan-Fowler

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

POLICYBASIS LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

1.	General information

Policybasis Limited is a private company limited by shares and is incorporated in England and Wales. The registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW.
The company's principal activity is that of marketing insurance.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 2

POLICYBASIS LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.4

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

POLICYBASIS LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Debtors

					2024	2023
					£	£


Other debtors	2,184,075	2,248,761
	2,184,075	2,248,761

Page 4

POLICYBASIS LIMITED

Notes to the financial statements

For the Year Ended 31 December 2024

5.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Corporation tax	500	-
Other creditors	117,276	8,077
	117,776	8,077

Related party transactions

A director and shareholder of Policybasis Limited, operates a current account with the company. At the balance sheet date the company owed the director £109,177 (2023: the director owed the company £75,636). Interest has been charged at a rate of 2.25% for any ovedrawn balances during the year. The balance is repayable on demand.
Included within other debtors is an amount of £766,572 (2023: £738,251) due from Alternative Market Specialists LLC, a partnership incorporated in the United States. Policybasis Limited is a partner in Alternative Market Specialists LLC.

Page 5